n borrows 6000 for 2 years at the rate of 12% pa. compounded annually.

1.	n borrows 6000 for 2 years at the rate of 12% pa. compounded annually. He repayO at the end of cach year. How much does he still owe after the second repayment?11, A ma3000 at the end of cach year. How much does he still owe after the sec
Answer» For first yearI = PRT/100I = 6000121/100 = 720 A = 6000+720= 6720 Principal for second year = 6720-3000=3720 For second year I = 3720121/100 = 446.4 A = 3720+446.4 Amount owe after second payment = 3720 - 446.4 = Rs 3273.6 Sorry wrong calculation Total amount after second year= 3720 + 446.4=4166.4 Amount owe after second repayment= 4166.4 - 3000= Rs 1166.4

n borrows 6000 for 2 years at the rate of 12% pa. compounded annually. He repayO at the end of cach year. How much does he still owe after the second repayment?11, A ma3000 at the end of cach year. How much does he still owe after the sec

Answer»

For first yearI = P*R*T/100I = 6000*12*1/100 = 720

A = 6000+720= 6720

Principal for second year = 6720-3000=3720

For second year

I = 3720*12*1/100 = 446.4

A = 3720+446.4

Amount owe after second payment = 3720 - 446.4 = Rs 3273.6

Sorry wrong calculation

Total amount after second year= 3720 + 446.4=4166.4

Amount owe after second repayment= 4166.4 - 3000= Rs 1166.4